OUR GAME THEORY PODCAST
In Game Changer, the podcast by TWS Partners, we want to share our enthusiasm and passion for game theory and its applications. Guests from industry and academia discuss the power of game theory in their profession and how they use it to make a difference. Along the way we strive to offer fun anecdotes, useful facts and valuable insights. Hear us out and find out that game theory is much more than a topic for ivory tower discussions.
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In this episode, we talk to Oliver Viehmann, Principal at TWS Partners, and explore the application of game theory to pricing strategies and negotiations in the highly regulated pharmaceutical industry. We discuss how pharmaceutical companies engage with regulators across the world to determine drug prices using two broad mechanisms: regulatory cost-effectiveness pricing and competitive procurement mechanisms (e.g. contracting or tendering). With reference to the highly publicized "Volume Based Procurement" program in China, we delve into the game theoretic complexities and challenges for both payers, who create auction designs, and manufacturers, who compete to win contracts.
Oliver Viehmann is Principal at TWS Partners and supports clients in the pharmaceutical sector, in addition to a range of other industries.